Strs Ohio trimmed its stake in shares of Aaron’s, Inc. (NYSE:AAN) by 17.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,700 shares of the company’s stock after selling 6,000 shares during the quarter. Strs Ohio’s holdings in Aaron’s were worth $1,257,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in AAN. Capital Analysts LLC grew its position in shares of Aaron’s by 107.9% in the first quarter. Capital Analysts LLC now owns 1,343 shares of the company’s stock valued at $31,000 after purchasing an additional 697 shares during the last quarter. Eudaimonia Partners LLC bought a new stake in Aaron’s in the 1st quarter valued at $32,000. Tower Research Capital LLC TRC grew its holdings in Aaron’s by 220.6% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,507 shares of the company’s stock valued at $34,000 after buying an additional 1,037 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in Aaron’s by 11.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,795 shares of the company’s stock worth $109,000 after buying an additional 479 shares during the period. Finally, Raymond James Trust N.A. bought a new position in Aaron’s during the 2nd quarter worth $231,000. Hedge funds and other institutional investors own 98.57% of the company’s stock.
A number of brokerages recently issued reports on AAN. KeyCorp increased their price target on Aaron’s from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday. Zacks Investment Research upgraded Aaron’s from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Wednesday, July 8th. Stephens raised Aaron’s from an “equal weight” rating to an “overweight” rating and set a $65.00 price target for the company in a research note on Wednesday. SunTrust Banks increased their price objective on shares of Aaron’s from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Raymond James boosted their target price on shares of Aaron’s from $50.00 to $64.00 and gave the company a “strong-buy” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $62.70.
Aaron’s (NYSE:AAN) last released its quarterly earnings data on Wednesday, July 29th. The company reported $1.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.36. Aaron’s had a negative net margin of 6.80% and a positive return on equity of 16.23%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $991.07 million. During the same period in the prior year, the company earned $0.93 EPS. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts predict that Aaron’s, Inc. will post 3.4 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Thursday, June 18th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend was Wednesday, June 17th. Aaron’s’s payout ratio is 4.11%.
Aaron's, Inc operates as an omnichannel provider of lease-purchase solutions to underserved and credit-challenged customers. It operates in three segments: Progressive Leasing, Aaron's Business, and DAMI. The company also engages in the sale, lease ownership, and specialty retailing of furniture, consumer electronics, home appliances, and accessories.
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